[Resolved] Home Credit India Finance — preclosure of personal loan

Gyanchand65

from Mundi, Madhya Pradesh

Address:

Gwalior, Madhya Pradesh, 474006

Dear sir,
I take personal loan from your company at the time of borrowing your executive said that i can pre close my loan after 6 month without interest. Then i tried to contact with customer care they always make me fool and said that ' i can preclosure my loan after paying same month emi' but when i pay emi then they says ' you can close it near your emi time... Sir i am not able to pay emi as my financial condition are weak.
Plzz help my to pre close my loan
Kindly resolve my problem
My registered mobile no is [protected]
Name gyan chand jha

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Mar 14, 2019

Complaint marked as Resolved

Home Credit India Finance customer support has been notified about the posted complaint.

Verified Support

Feb 11, 2019

Home Credit India Finance Customer Care's response Dear Gayan,

Thank you for contacting Home Credit.

We regret the inconvenience caused.

We wish to inform you that as per the General Terms and Conditions of the Loan and the Terms and Conditions mentioned in your Loan Summary, the interest amount has been calculated basis the annualized flat rate of interest. The apportionment of the interest amount over the period of the loan is done on a reducing balance method so that the interest charged on a monthly basis is consistent with the principal outstanding at the end of each month. We assure you that the total amount of interest received from the customer basis the flat rate of interest mentioned in the loan summary remains the same. There are no foreclosure charges, however, depending on the month till foreclosure happens is calculated in a pro-rated manner. Please note all the terms and conditions of the loan are mentioned in the Loan summary and the General Terms and Conditions.

Further, If you wish to foreclose the loan, we would able to activate the request 5 days prior to your next EMI date, provided NIL delinquent amount as on date. Upon activation, you are advised to make the payment within 48 hours from the activation date.

Additionally, your contract is having the delinquent amount of Rs.3, 622/- which is pending from last 2 days. Hence, we would request you to kindly make the payment at the earliest to avoid collection activities.

We appreciate your patience and understanding with this.

For any further help, please contact us at the below-mentioned email id.

Regards,

Customer Care Team
Home Credit India Finance Private Limited | Call –[protected]; Email – [protected]@homecredit.co.in

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